A rental application is a form that provides the information a landlord or property owner needs to evaluate a tenant’s creditworthiness and ability to consistently pay rent.
Filling out a rental application can seem complicated, but it becomes easier to manage if you consider the steps.
Where do I start?
You can complete a rental application in several ways, depending on the landlord’s property manager’s process. Many offer online applications, which can be especially convenient after a tour. Others may ask prospective tenants to submit an application in person or electronically at the leasing office, often following a tour or open house.
What does the application fee cost?
Application fees typically cover the cost of running background and credit checks. They usually range from $25 to $100, with $35 to $75 being the most common. These fees are non-refundable. In some states, application fees are regulated and cannot exceed the actual cost of obtaining the screening reports.
What information do you need to provide in a rental application?
It’s best to gather the most commonly requested documents before you start applying. Being prepared ensures you can move quickly when you find the right place since pausing to track down paperwork can give other applicants leverage. Keeping digital copies accessible can help streamline the process.
Pro tip: “It’s always better to provide a more complete application,” Seamus Nally, CEO of TurboTenant, an online platform for landlords to manage their properties, told Homes.com.
Common application requirements include:
- Valid ID like a driver’s license, state ID or passport
- Basic contact details like email address, personal number and work number
- Proof of income, which could include W-2s, recent pay stubs, bank statements or tax returns
You may also be asked to provide:
- An employment verification letter
- Personal or professional references
- Contact information of previous landlords
- Pet details, if necessary
“Make sure the numbers on your application can be found right on your pay stub … inconsistencies in the application are things that alert the landlord,” Nally added.
What matters the most in rental applications?
Landlords typically focus on these two key questions:
Can the applicant pay bills on time? Does the applicant earn enough to cover the cost of rent?
For landlords to figure out whether someone is a reliable renter, they usually check your credit and run a background check. They’ll use the data from major credit bureaus like Equifax, TransUnion and Experian to see if you pay your bills on time and if you’re able to manage your debt responsibility. Keep your credit card balances low, ideally less than 30% of your available credit. The longer you’ve had credit, the better your score tends to be. And if your credit score isn’t perfect, it can be helpful to write a short explanation about your situation like whether unexpected medical expenses caused a temporary drawback. It’s worth noting that landlords can report rent payments to the credit bureaus. That can help you build your credit." Renters don’t think about this,” Nally said. Landlords look at your credit history as one piece of the puzzle when they’re deciding whether to approve your application. They also factor in things like how competitive the rental market is, how much rent costs and their past experiences with other tenants.
Income verification
Landlords will want to know that you’re not overextending yourself to pay rent. Applicants who are employed will need to submit pay stubs, W-2s or tax returns. Self-employed or contract workers may need to show two years of tax returns plus recent bank statements to demonstrate stable income.
Even with a good credit score, a high rent-to-income ratio can be a concern — one unexpected expense could upend the budget. As a rule of thumb rent shouldn’t exceed one-third of monthly gross income; however, this could vary by location.
Background check
A background check helps a landlord understand an applicant’s reliability and overall character. This includes a national criminal records search, and it's wise for applicants to be upfront about any past convictions or pending legal issues that may appear in the report.
As Nally explained, “There are some states where eviction records can be considered, and there’s some places where eviction records cannot be considered. I would say eviction records, if they can be considered in a location, that’s going to be like your number-one thing you’re going to look at as a landlord.”
“If you know you have a checkered past … be forthcoming and honest and share,” he added.
Letters of recommendations
Positive references can strengthen your application, especially if you’re a first-time renter. Helpful options include letters from past landlords, employers, professors or other credible individuals. First-time renters may also consider having a co-signer to help satisfy landlords’ requirements.
Pro tip: “Rental history is also really valuable,” Nally said. “Even if that’s living in the dorms … it’s better to say [that] than leave it empty.” And “If you have very minimal income … it might be necessary to have a co‑signer … Ask ahead of time so you're not caught flat‑footed.”
Landlords will call your references to understand, “Did you take care of the place? Did you pay rent on time? Did you leave voluntarily, or were you evicted?”
How long does the approval process take?
Approval times vary depending on the property and how quickly documents can be verified. Most applicants are processed with one to three business days — however, it could take up to a week. In some cases, renters may tour, apply to get approved and sign a lease all the same day if everything is in order.
Submitting all documents upfront helps avoid delays. It’s always an option to ask the property manager how long approvals typically take or “during the showing, [you could] ask about the application process,” Nally said. “After submitting an application, [you could also] drop a note telling them you submitted it.”
After you’re approved
You’ll need to sign the lease, which is a legally binding agreement outlining your responsibilities. Many properties allow electronic signing, but in-person signing is also common. If you have a co-signer, they’ll need to sign as well.
Payments due at signing
Most properties require:
- First month’s rent
- A security deposit (this could be one or equal to one month’s rent)
- Pet fees, if applicable
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